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New Castle County outlines lending, grant and small‑business strategies to boost local contractors
Summary
At a March 4 meeting, New Castle County’s economic development director and the county’s small‑business coordinator reviewed the Grow NCC lending program, an ARPA‑funded quarter revitalization grant program, and efforts to increase certified small business enterprise participation on the Newark Free Library project.
NEWARK, Del. — New Castle County’s Economic Development Subcommittee on March 4 heard an overview from Economic Development Director Jeff Berman and Small Business Enterprise Coordinator Helen Foster of three ongoing programs aimed at expanding lending and increasing county contracting by certified small business enterprises.
Berman opened with a summary of the Office of Economic Development’s current initiatives, including the Grow NCC Fund, a partnership with Discover Bank and Grow America that provides longer‑term, below‑market loans intended to support expansion, hiring and operational improvements for small businesses. "We have plenty of lending capacity," Berman said, and noted the fund closed two small business loans in New Castle County last year and four loans statewide. "Please consider my office a resource," he added.
Why it matters: the programs are intended to direct financing and targeted grants into designated commercial corridors and to increase the share of county contracts performed by…
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